Do You Need To File An Affordable Bankruptcy? We Can Help.

Northwest Indiana Bankruptcy Attorney Discusses Basics for Filing an Affordable Bankruptcy


Schlyer & Associates, a law firm in Northwest, Indiana can help you file an Affordable Bankruptcy.   We help people file bankruptcy in Lake County and Porter County, Indiana.

Which type of Affordable Bankruptcy is right for you?


Chapter 7 Bankruptcy
There are two basic types of bankruptcy available for people (not corporations).  A Chapter 7 is a liquidation of all unsecured debt with the option of retaining or returning secured property. That sounds very impressive and lawyer-like doesn’t it?  To say it another way, in a Chapter 7 you list all the debt you owe and you can keep the debt you decide to pay for, like a house or a car.  The other debts, like credit cards, medical bills, signature loans, payday loans and mail order things, are discharged (or forgiven)  and you would never have to pay those debts. If you decide you cannot afford to keep your house or a car, you have the option of giving the property back and owing that creditor nothing.

Chapter 13 Bankruptcy
A Chapter 13 is a reorganization of debt, a lot like credit counseling without the late fees, interest and collections.  In a Chapter 13 we put together a budget based on your net income and your everyday routine living expenses (not including your debts, mortgage or car payments).  This formula gives us an excess amount of income available for repayment of your debts.  Once we agree this figure is accurate, we file your bankruptcy and that amount is paid to a trustee on a monthly basis and he pays your debts for you.  He will focus first on secured debts, like a mortgage and cars. If he has money left over he will then make a distribution to your unsecured creditors.  While you bankruptcy is pending creditors cannot attempt to collect the debt.  At the end of your Chapter 13, your unsecured debts would be discharged and you would go back to making your mortgage payment.

Schlyer & Associates Can Help You File an Affordable Bankruptcy
Many people have struggled financially and have had to make the decision to file bankruptcy.  Remember, you are not alone and at Schlyer & Associates, you will not be judged or be made to feel embarrassed.  We are here to help.

If you live in the communities of f Hammond, East Chicago, Gary, Whiting Munster, Griffith, Highland, Dyer, St. John, Schererville, Cedar Lake, Lake Station, Crown Point, Merrillville, Hobart, New Chicago, Lowell, Lake Dalecarlia, Winfield, Miller, Lake Village, Valparaiso, Hebron, Dune Acres, Kouts, Odgen Dunes, Chesterton, Town of Pines, Portage, Porter, Wheeler, South Haven or Beverly Shores we can help you file an Affordable Bankruptcy.

Please call our office today at (219) 757-0225 to schedule a free consultation with an affordable bankruptcy lawyer.  We are a debt relief agency.

We are conveniently located at 200 West 80th Place, Merrillville, Indiana  46410, across the street from the Merrillville Post Office, Cafe Fondue and the Crossroads Regional Chamber of Commerce office.

Posted by Attorney David R. Novak
200 West 80th Place, Merrillville, Indiana (219) 757-0225